Loopring is ICOing now.

"Loopring is not only a protocol but also a decentralized automated execution system that trades across the crypto-token exchanges, shielding users from counterparty risk and reduce the cost of trading. By essentially rising the liquidity of cryptocurrencies, we are building the financial system of the future."

https://loopring.org


Token sale starts from block#4104040, ends in block#4256540.
Last 30 days (152500 blocks) with 10 3-day (15250 blocks) phases;
Each phase has a different bonus setting to reward early participants;



How to Participate
Participate on our partner's website imToken, ICO365, ICORace, TokenCapital, and AIMWise;

Or sender Ether from your wallet directly to our token sale smart-contract address below. Noted:

1. Please verify that https://etherscan.io/address/lrcsale.eth points to the same address - otherwise one of the two websites might have been hacked;
2. Do NOT withdraw Ether from any exchange directly to our token sale address, you will lose your LRC. There is nothing we can do for you;
3. Please set gas value to at least 90000;
4. Our smart-contract only accepts transactions with a minimum value of 0.01ETH;
5. LRC will be issued and transfered to the source address immediately, there is no lockdown period;
6. Do not make any LRC transfer to accounts you don't control until Sept. 2nd - you may lose LRC that will be issued later on other blockchain;
7. You confirm that you are not a US or Singapore citizen/resident;
8. You can check your LRC balance with the tool below.

Address
0xEF68e7C694F40c8202821eDF525dE3782458639f

Rules
Loopring Token (aka Loopring Coin or LRC) is a ERC20-compatible token issued using our smart contract (The smart contract) on Ethereum.

The smart contract will issue LRC immediately after receiving ETH payment to the sourcing address. DO NOT withdraw ETH from exhanges directly to the smart contract. You may lose part of all your LRC, for which we shall not be held responsible nor provide any technical support. LRC has no vesting period.

The remaining unsold token allocation will be issued within one week after token sale using the same smart contract. A detailed layout based on different fundraising scenarios can be found in below. Loopring development team believes that a capped fundraiser will promote a widespread distribution of the tokens, a necessary prerequisite to launching a robust network.
Token Sale Distribution Ends in 30 days, Hardcap is 120,000 ETH, Softcap is 50,000ETH; All the tokens will be refunded within one week (minus some gas cost) if the project fail, the last transaction may cause the final sale slightly over 120,000 ETH.

The fundraiser will last for a period of 152500 blocks (about 30 days). Throughout this period, a contribution of one ether will lead to an allocation of five-thousand LRC plus a time dependent bonus. This bonus is meant to incentivize contributors not ot delay their participation. The bonus starts at 20%, meaning that a contribution of 1 LRC yield an allocation of 5000*(1+20%)=6000 LRC and decrease progressively to 0% over 10 periods(20%, 16%, 14%, 12%, 10%, 8%, 6%, 4%, 2%, 0%).

50000~60000 ETH(inc.) 32.5% LRC will be sold through Token Sale
60000~70000 ETH (inc.) 35% LRC will be sold through Token Sale
70000~80000 ETH (inc.) 37.5% LRC will be sold through Token Sale
80000~90000 ETH(inc.) 40% LRC will be sold through Token Sale
90000~100000 ETH(inc.) 42.5% LRC will be sold through Token Sale
100000~110000 ETH(inc.) 45% LRC will be sold through Token Sale
110000~120000 ETH(inc.) 47.5% LRC will be sold through Token Sale
12000 to above 50% LRC will be sold through Token Sale

The Loopring Foundation will manage the contributions according to its purpose. Initially, the Foundation will budget for 4 years. The Foundation will have the discretion to pay for service it believes will benefit the promotion of the Loopting protocol, either in tokens or another currency. The remaining 40% unsold tokens will be distributed to the team will vest in a period of 4 years. Additionally, 60% rest will pay for research, legal service, business development,communications and marketing.

When implemented on other public blockchain(eg, EOS, Qtum), alt-LRC tokens will also be issued proportionally to the addresses that participated in this original Token Sale - as long as the singing algorithm is also ECDSA (with 5% fee); otherwise, Loopring foundation reserves the right to issue alt-LRC tokens on other blockchain in a different way.

Token Sale Smart contract opened code.

Open source code is available on github:https://github.com/Loopring/ico

Hi all,

According to the introduction(https://loopring.org) , Loopring is a decentralized automated execution system that trades across the crypto-token exchanges, shielding users from counterparty risk and reduce the cost of trading. Anyone focus on this protocol? It's ICOing now,  Seems it's more advanced than 0x protocol but different from kyber.


-Blake